Funding you earn now, next payment 04:00 UTC−0.1506%/8h= −164.9% APRnext payment −$1.88 per $10,000 · paid last 24h −0.320%
Price spread now: Injective against Kraken Futures−0.714%7-day average −0.238% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.963%−$96 on $10k
+Price spread, last 4 days (all we have)+0.842%+$84 · spread now −0.714%, 7d avg −0.238%
=Both sides work against this trade now: funding costs −$45 a day on $10k at the current rate, and Injective is 0.476% cheaper against Kraken Futures than usual: you would sell low and buy high (−$48 if the spread goes back to its 7-day average of −0.238%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.963% in total (about -50.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.88 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_RENDERUSD | 1.8331 | 0.1283 | pay 0.0160% / 1h | 31m 13s | $477K | $1.1M | 50x |
| Short | Injective RENDER/USDC PERP | 1.8200 | −0.0223 | pay 0.0028% / 1h | 31m 13s | $6K | $188K | 12x |
Kraken Futures PF_RENDERUSD
Injective RENDER/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$316.22
- Price spread: −0.714% → −0.238%
- −$47.6
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$373.84
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 2 min ago; Injective: live order book, 43 min ago. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Kraken Futures live order book, 2 min ago | 10.33 bp | 18.3 bp −$18 | 49.7 bp −$497 | doesn't fit | doesn't fit |
| Sell Injective live order book, 43 min ago | 60.80 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
RENDER on 22 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective RENDER/USDC PERPshort | −0.0223% | 1h | 1.8200 | −0.714% | $6K | $188K | 12x | |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8301 | −0.163% | $10K | $30K | 25x | as long as short |
| dYdX RENDER-USD | +0.0084% | 1h | 1.8319 | −0.064% | $19K | $23K | 5x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8312 | −0.105% | $12.1M | $47.4M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8300 | −0.168% | $11.7M | $13.3M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8320 | −0.059% | $3.1M | $8.1M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8310 | −0.113% | $548K | $1.2M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8300 | −0.168% | $12.5M | $11.3M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8330 | −0.004% | $4.9M | $11.7M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8323 | −0.043% | $10.0M | $10.9M | 50x | as long as short |
Deribit RENDER_USDC-PERPETUAL
dYdX RENDER-USD
Binance RENDERUSDT
Bybit RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDT
KuCoin RENDERUSDTM
Bitget RENDERUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX RENDER-USDT | +0.0100% | 4h | 1.8310 | −0.113% | — | $3.6M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8202 | −0.704% | $259K | $313K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8345 | +0.077% | $41K | $252K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8320 | −0.059% | $1.8M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8300 | −0.167% | $26K | $200K | 10x | as long as short |
| Aster RENDERUSDT | +0.0256% | 4h | 1.8323 | −0.040% | $266K | $151K | 20x | as long as short |
| Phoenix RENDER | +0.0299% | 1h | 1.8343 | +0.067% | $47K | $315K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8330 | −0.004% | $581K | $1.1M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0363% / S −0.0927% | 1h | 1.8299 | −0.172% | $15K | — | 100x | as long as short |
| Hyperliquid RENDER | +0.0492% | 1h | 1.8335 | +0.023% | $4.1M | $3.3M | 5x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0720% | 1h | 1.8450 | +0.650% | $151K | $55K | 50x | as long as short |
| Kraken Futures PF_RENDERUSDlong | +0.1283% | 1h | 1.8331 | long leg | $477K | $1.1M | 50x |
BingX RENDER-USDT
Variational Omni RENDER
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Aster RENDERUSDT
Phoenix RENDER
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Hyperliquid RENDER
Coinbase International RENDER-PERP-INTX